time to overhaul investments .....

[mudhut]

Hello to All..

I have being using AAM for some time (home & gardens) and Have just started using the financial section, once again the info is invaluable.

I am orignally from the ould sod and I am currently living in the U.S. .

back when the euro was on par with the dollar (happier times) up until late 03, I shifted the bulk of my liquid equity into a a with profits bond (now called synergy) with Standard life, it has done quite respectfully over the last 4/5 yrs , considering that I am no savvy investor or day trader.

I recently recieved my annual statement from a BOI pip that I have had running in the back ground for over 10 yrs and it was not pretty , it lost over E4000 in 12 months , I relaise that the economy is slowing down but really !! , I think its time to close it and put it into a high interest savings Acc (with BoI initally) while considering other investment options.

I also have accumulated significant funds both euro and dollars which are just stagnent as regards investing, and I feel it is way over due to start my money working for me.

I am looking to buy a property in Eire soon , (mortgage is in place) and using some of my cash to complement mortgage funds.

I have read here about "drip feeding money from high interest acc into another (halifax gets mentioned a lot)

As regards dollars to euros, well its enough to make a grown man weep, but its time to get that money to work !! I am considering setting up an Acc with some of the online brokers mentioned here and buying stocks and shares both in U.S. and Europe (this is a whole new ground for me)

I would appreciate any comments or direction that anybody can lend me, As I continue to pan for golden nuggets that is the info on AAM


Cheers to all


MudHut

 

[PMU]

Your post is rather vague, but he’s my views:

If you intend to retire to Ireland your functional currency is the euro, so you should focus the bulk of your investments on EUR-denominated securities, property and bonds. If you intend to retire in the US you should focus on USD-denominated securities, property and bonds, i.e. invest in financial products denominated in the currency with which you will end up paying your bills in the long-term future.

I recently recieved my annual statement from a BOI pip that I have had running in the back ground for over 10 yrs and it was not pretty , it lost over E4000 in 12 months ,

Have you lost money over the past 10 years, or how many times over the past 10 years has the PIP lost money and recovered? If it has recovered in the past, have you any reasons to assume it will not recover now? If the fees are high (and you are in profit) you might consider changing to a broad market index tracker or ETF, again denominated in your functional currency.